Nonprofit · EIN 61-1756962
LAND BANK TWIN CITIES INC
Tax-exempt · SAINT PAUL, MN 55114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,464,563 | $6,629,339 | -$1,164,776 | $32,138,508 | $25,069,401 | $7,069,107 |
| December 31, 2023 | 990 | $5,868,572 | $6,063,417 | -$194,845 | $32,751,043 | $24,517,160 | $8,233,883 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,382,815
- Program service revenue
- $3,426,563
- Investment income
- $43,775
- Net gain from sales of assets
- $43,775
- Other revenue
- $611,410
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $425,602
- Other salaries and wages
- $485,466
- Salaries, compensation and benefits (total)
- $1,026,029
- Professional fundraising fees
- $0
- Legal fees
- $148,006
- Accounting fees
- $271,268
- Occupancy
- $115,345
- Travel
- $1,786
- Depreciation
- $831,483
- Program services (functional)
- $5,452,345
- Management and general (functional)
- $1,107,953
- Fundraising (functional)
- $69,041
Balance sheet and other
- Total assets, start of year
- $32,751,043
- Total assets, end of year
- $32,138,508
- Total liabilities, end of year
- $25,069,401
- Net assets, end of year
- $7,069,107
- Land, buildings and equipment
- $846,926
- Net assets without donor restrictions
- $4,261,532
- Net assets with donor restrictions
- $2,807,575
- Gross receipts
- $6,559,340
- Employees
- 10
- Volunteers
- 28
- Year formed
- 2015
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EDWARD LANDENBERGER | VS PRESIDENT & SR PROGRAM Officer | 40 | $168,782 | $26,505 |
| SHANA WENGER | CHIEF OPERATING OFFICER (THRU 7/2024) Officer | 40 | $123,337 | $9,444 |
| SCOTT ANDERSON | PROGRAM MANAGER Highest-paid employee | 40 | $115,000 | $4,654 |
| AARICA COLEMAN | PRESIDENT & CEO Officer | 40 | $93,125 | $4,409 |
| AMY MCCULLOCH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARBARA MCCORMICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES HANLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DAVID MCGEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELFRIC PORTE II | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON CHAVEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAY JENSEN | DIRECTOR (THRU 11/2024) Trustee or director | 1 | $0 | $0 |
| KARLA HENDERSON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KIZZY DOWNIE | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| LIBBY STARLING | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NICOLLE GOODMAN | DIRECTOR Trustee or director | 1 | $0 |
| CHENIQUA JOHNSON | DIRECTOR Trustee or director | 1 | $0 |
| MAI CHONG XIONG | DIRECTOR Trustee or director | 1 | $0 |
| MOLLIE MOSMAN | CHIEF FINANCIAL OFFICER Officer | 1 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EDWARD LANDENBERGER | VS PRESIDENT & SR PROGRAM DIRECTOR Officer | 40 | $165,897 | $32,419 |
| SHANA WENGER | CHIEF OPERATING OFFICER Officer | 40 | $139,178 | $23,465 |
| SCOTT ANDERSON | PROGRAM MANAGER Highest-paid employee | 40 | $104,721 | $4,187 |
| SANDRA L OAKES | PRESIDENT (LEFT 4/2023) Former | 40 | $100,487 | $2,145 |
| AMY MCCULLOCH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARBARA MCCORMICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES HANLEY | TREASURER AS OF 09/2023 Trustee or director, Officer | 1 | $0 | $0 |
| CHERIE SHOQUIST | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID MCGEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH MITCHELL | DIRECTOR-(LEFT 07/2023) Trustee or director | 1 | $0 | $0 |
| ELFRIC PORTE II | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JANE PRINCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON CHAVEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAY JENSEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF WASHBURNE | TREASURER (LEFT 09/2023) Trustee or director, Officer | 1 | $0 | $0 |
| KARLA HENDERSON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KIZZY DOWNIE | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| LIBBY STARLING | VICE CHAIR/ CHAIR AS OF 09/2023 Trustee or director, Officer | 1 | $0 | $0 |
| MIKE GOZE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NICOLLE GOODMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM STREITZ | CHAIR (LEFT 3/2023) Trustee or director, Officer | 1 | $0 | $0 |
| TRISTA MATASCASTILLO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CURT KLOTZ | CHIEF FINANCIAL OFFICER Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2515 WABASH AVE, SAINT PAUL, MN 55114-1093
- Mailing address (990-N for 2015)
- 615 First Ave NE 410, Minneapolis MN 55413
- Principal officer (990 for 2024)
- AARICA COLEMAN, 2515 WABASH AVE 150, SAINT PAUL, MN 55114
- Principal officer (990-N for 2015)
- Sandra Oakes, 615 First Ave NE 410, Minneapolis MN 55413
- Signed the 990
- AARICA COLEMAN, PRESIDENT
- Phone
- (612) 238-8210
- Website
- tcclandbank.org
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
LAND BANK TWIN CITIES, INC. CAPTURES STRATEGIC REAL ESTATE OPPORTUNITIES TO BENEFIT PEOPLE WITH LOW TO MODERATE INCOMES, PRIORITIZING PEOPLE OF COLOR AND POPULATIONS FACING BARRIERS.
Program accomplishments
- LAND BANKING -LAND BANK TWIN CITIES, INC. (LBTC) ACQUIRES, HOLDS, AND RESELLS STRATEGIC PROPERTIES WITHIN THE SEVEN-COUNTY METROPOLITAN AREA, TARGETING SALES TO APPROVED NON-PROFIT ORGANIZATIONS, SOCIALLY RESPONSIBLE FOR-PROFIT DEVELOPERS, COMMUNITY BUSINESSES, AND GOVERNMENT TO ADVANCE ITS MISSION.Expenses $745,869 · revenue $376,691
- COMMUNITY LENDING -LBTC PROVIDES LOANS TO APPROVED NON-PROFIT AND SOCIALLY RESPONSIBLE FOR-PROFIT DEVELOPERS, NON-PROFIT SERVICE PROVIDERS, COMMUNITY BUSINESSES, AND GOVERNMENT FOR THE PURCHASE, REHABILITATION, AND NEW CONSTRUCTION OF PROPERTIES, IN ALIGNMENT WITH ITS MISSION.Expenses $88,933 · revenue $219,875
- BROKERAGE/PROPERTY MANAGEMENT - LBTC BROKERS THE SALE AND PURCHASE OF PROPERTIES AND MANAGES PROPERTIES DURING HOLDING PERIODS TO SUPPORT ITS MISSION.Expenses $2,779,375 · revenue $3,144,862
- GENERAL PROGRAM - ACTIVITIES THAT GENERALLY RELATE TO THE OVERALL MISSION OF LAND BANK TWIN CITIES, INC. BUT DO NOT FALL UNDER A SPECIFIC DEFINED PROGRAM.Expenses $1,838,168 · revenue $340,320
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1756962
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L80)
- Assets (IRS master file)
- $32,138,508
- Income (IRS master file)
- $6,559,340
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,464,563 | $6,629,339 | $32,138,508 | IRS |
| 990 | December 2023 | $5,868,572 | $6,063,417 | $32,751,043 | XML |
| 990 | December 2022 | $7,583,813 | $4,611,397 | $31,192,674 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2015 Officer: Sandra Oakes | December 31, 2015 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 61-1756962).
Questions about LAND BANK TWIN CITIES INC
- What is the EIN of LAND BANK TWIN CITIES INC?
- The employer identification number (EIN) of LAND BANK TWIN CITIES INC is 61-1756962.
- Is LAND BANK TWIN CITIES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to LAND BANK TWIN CITIES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAND BANK TWIN CITIES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAND BANK TWIN CITIES INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAND BANK TWIN CITIES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAND BANK TWIN CITIES INC?
- The 990 for the year ended December 31, 2024 names AARICA COLEMAN.
- Who are the officers and directors of LAND BANK TWIN CITIES INC?
- The 990 for the year ended December 31, 2024 lists 19 people; 4 received compensation from the organization, the highest $168,782 (EDWARD LANDENBERGER, VS PRESIDENT & SR PROGRAM).
- How much revenue does LAND BANK TWIN CITIES INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,464,563, expenses of $6,629,339 and total assets of $32,138,508 at year end.
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All nonprofits in SAINT PAUL · Minnesota · Housing and shelter